"A convincing break of the .7400 level will send Aussie longs running for the exit and could add more fuel to the downside momentum."
— Market Pulse (based on Investing.com)
Pair's outlook
AUD/USD continues to trade lower for the third consecutive day, suggesting that no change in direction could be expected in this trading session. Downside pressures are keeping the Aussie slightly below the lower Bollinger band. Similarly to yesterday, no sharp losses are expected today; thus, the weekly S2 at 0.7359 may be too far to reach. All indications point to further depreciation in the longer term, especially when weaknesses in the commodities market keep weighting heavily on the Antipodean currency. The Aussie should soon become oversold; thus some minor upward corrections may be expected in the following trading week.
Traders' sentiment
Market sentiment is bullish, as 54% of traders are holding long positions. Meanwhile, 58% of set up orders are to sell the Aussie.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | 8% | 10% | 6% | |
| Orders | -16% | -8% | 10% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Sell | Buy | Sell | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Sell | Sell | |
| ADX (14) | Neutral | Neutral | Neutral | |
| CCI (14) | Buy | Buy | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Sell | Neutral | Neutral | |
| SAR (0.02; 0.2) | Sell | Sell | Buy | |
| Aggregate | ↘ | → | → | |